Weekly Digger - July 18-23, 2005 Precious Metal Conundrum
#2
Posted 18 July 2005 - 09:05 AM
What is the gold conundrum. The conundrum is this. How can the POG not be climbing in the face of such fundamental deterioration in the 'value' of fiat today? I'm sure I have the answer but it only begs another question. There is no real public awareness that gold is an investment that one uses to protect oneself in times of inflation. I saw an article today that said really hard times were coming when the hosing babble breaks and what to do about it. A lot of good advice was then given but what shocked me was there was not 1 mention of gold or silver or anything like that. Bonds, foreign stocks and cash if I remember correctly.
Be aggressive buy stocks, be safe buy houses, then be really safe go to cash and bonds.
The question that is begged is Why, for god's sake is their such ignorance? Can people really be herded so easily? Today we want you to buy our stocks, tomorrow our debt. We'll let you know what we need to sell next when the time comes.
Out of gold and ready to dabble on the dark side of the Broads, the short dark side that is.
Watch ya.
#5
Posted 18 July 2005 - 11:17 AM
Pinpoint????
#6
Posted 18 July 2005 - 11:44 AM
it seems this is the bounce that i was looking for. then another down. should finish before months end. But , i am not looking @ time. this correction has already shaken quite a few bulls resolve. dharma
#7
Posted 18 July 2005 - 11:54 AM
dharma, on Jul 18 2005, 10:44 PM, said:
it seems this is the bounce that i was looking for. then another down. should finish before months end. But , i am not looking @ time. this correction has already shaken quite a few bulls resolve. dharma
Thanks dharma, I know I've been shook.
#8
Posted 18 July 2005 - 12:00 PM
Attached image(s)
#10
Posted 18 July 2005 - 02:07 PM
#11
Posted 18 July 2005 - 03:43 PM
Probabilities now strongly suggest that gold stocks ought to continue to outperform gold in the months ahead, and I am really excited to see how this all plays out.
http://www.zealllc.c...05/huigold2.htm dharma
another exciting day!
#12
Posted 18 July 2005 - 08:03 PM
The sixty minute chart seems to show an impulse under construction.
If we do get a 5th wave down, it portends substantial weakness. After a limited correction at one higher degree of trend, we should then have another wave down--either a C or a 3.
Edit:
Geez. Do I have to criticize my own chart?
O.K. Here's what's wrong. Wave 4 is not complete. Don't speculate on the labelling. Without confirmation, label to the right on the chart. Wave 4 is too far short of appropriate fib retracements. Even a modest 23.6% would exceed the current level. How about that gap at 91.10 to 91.22? A modest 38.2% retrace would fill it.
Finally, wave 4's tend to be complex and protracted. This one day move has no significant alternation to wave 2. Whether we're in a simple 3rd wave or a iii of 3 extension, we'll have to tolerate this consolidation and the corrective pattern that follows to go short
Attached image(s)
#13
Posted 19 July 2005 - 10:38 AM
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